Poland GDP Q3 2017

Poland: Growth accelerates in Q3

November 14, 2017

The Polish economy sped up in Q3. According to preliminary data released by the Central Statistics Office on 14 November, the economy expanded 4.7% annually in Q3, above Q2’s revised 4.0% (previously reported: +3.9% year-on-year). The reading represented a multi-year high and beat market expectations of softer 4.5% annual growth. Although a breakdown by components is not yet available, the strong expansion in retail sales recorded throughout Q3 and the falling unemployment rate suggest that growth once again came on the back of soaring private consumption.

On a seasonally-adjusted quarter-on-quarter basis, GDP growth accelerated from a revised 0.9% expansion in Q2 (previously reported: +1.1% quarter-on-quarter) to a stronger 1.1% increase in Q3. More detailed data will be released on 30 November.

FocusEconomics Consensus Forecast panelists expect that the economy will grow 3.4% in 2018 which is unchanged from last month’s forecast. For 2019, panelists see the economy growing 3.1%.